Insurance can be a difficult subject for many homeowners and owners of automobiles. There are a lot of different companies with various policies and everyone’s situation is unique to themselves due to a variety of personal factors such as what is insured, the age of what is needed to be insured, the location of your home, and much more. In addition to this, there can be a lot of terrible advice roaming the Internet these days, so, it is important to decipher the truth and find out how to best stay protected before disaster strikes.
Look For COVID-19 Related Discounts
As society continues to work on finding acceptable solutions to dealing with the coronavirus pandemic, insurance companies are offering a wide range of discounts, credits, deals, and more. There are many companies and each provider is doing things a bit different than the other, so it’s important to do your research beforehand. For a complete look at how various insurance companies are giving back, learn more with this helpful article.
If It Has a Note, Don’t Commit Insurance Fraud
The distinction of something having a note shouldn’t be that important here, but with a special emphasis on what has become a popular saying, know that its not just a dumb idea, but also illegal.
And insurance fraud is costing you and your fellow Americans money. Lots of money. Studies have shown that insurance fraud costs consumers $400-$700 a year and that’s not even counting medical fraud.
Yikes, that’s a lot of money and insurance companies are not in the business to lose money but to create additional wealth. Companies have stepped up their efforts in detecting fraudulent claims. In states such as Texas, you can spend up to 29 years in prison if found guilty of felony-level insurance fraud and have to pay $10,000. Don’t forget the car note you won’t be able to pay off, the lack of transportation you’ll find yourself with, and any legal fees you may incur.
It’s important to remember that while taking advantage of a situation that may feel like a personal way to move forward, it is not an ethical or legal option. Safely protect your property with integrity to avoid problems down the road.
Prepare for Hurricanes Early
We are barely into the official hurricane season in 2020 at the time of this writing and we have already seen a tropical storm affect areas in North Carolina and the Gulf Coast recovers from Cristobal, the earliest “C-name” storm in history.
The time to prepare is now.
And there’s an even better reason than simple preparedness, for Gulf Coast residents, once a hurricane enters the Gulf of Mexico, you will be unable to purchase windstorm insurance until the event is no longer a threat to the area. That means if you are a homeowner and you’re thinking about protecting your home but only “when you need the coverage,” by waiting you will be unable to receive the coverage you need and may end up spending more on repairs and rebuilding than you would have on premiums. Flood insurance can also have 30-day waiting periods attached to them before your policy will be in effect. Insuring early will help mitigate lapses in coverage.
Spending money on insurance isn’t necessarily the most fun part of life and saving money is important. The best thing you can do is to talk with a trained professional at TGS Insurance about the policies and bundles available for your home to determine the best quote that fits your coverage and budget needs.